INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Resource-based approach
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Equity approach
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Situational approach
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Transformational approach
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Detailed explanation-1: -Equity theory says that employees view a situation as equitable when employees who give similar inputs receive similar outcomes. When the rewards differ for the same degree of effort, employees view the situation as inequitable.
Detailed explanation-2: -Equity theory focuses on our perceptions of how fairly we’re treated relative to others. This theory proposes that employees create contributions/rewards ratios that they compare to those of others. If they feel that their ratios are comparable to those of others, they’ll perceive that they’re being treated equitably.
Detailed explanation-3: -Fairness and equity in the workplace means respecting the human rights of each individual who works within the organisation. Employees that feel respected by their organisation are more likely to enjoy their job, reach out to help their colleagues and ultimately produce better work.